Fed banks wanted flat discount rate in May, June

(Reuters) - "Directors considered it likely that business investment
would begin to strengthen soon, buoying overall economic
growth, but they noted that activity in the housing market was
continuing to contract and cautioned that the housing sector
posed a downside risk to economic performance," according to
minutes from a June 25 meeting.




The Fed also released minutes from a May 21 discount rate
meeting.


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